Well, a pretty pathetic effort from RDM today. MMA at today's closing price of 27c on the highest one-day volume since listing is valued at AUD $40M. RDM's 50% of the outstanding shares should value RDM at $20M or 8.5c a share. That assigns zero value for their estimated $1M cash balance and all their prospects, half of which are being free carried in joint ventures and two others that they have received funding from the QLD and WA governments to drill.
I suspect the low cash balance and potential for a capex may be deterring potential investors. And maybe the fact that OZL has agreed to the takeover from BHP and what that means for the Allianz between OZL & RDM.
Heading up?, page-13
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Last
14.0¢ |
Change
-0.008(5.08%) |
Mkt cap ! $41.93M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 14.5¢ | 14.0¢ | $14.46K | 102.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 111238 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 100000 | 1 |
View Market Depth
| Last trade - 14.00pm 20/06/2024 (20 minute delay) ? |
| RDM (ASX) Chart |